Parc Esta @ Eunos

Parc Esta is a mega-project right next to Eunos MRT  and is redeveloped from the former Eunosville HUDC estate. Comprising about 1,400 units on a massive land size of 28 Olympic sized swimming pools, Parc Esta will be developed by the renown MCL Land. Residents will not only be able to live in an exclusive low density neighbourhood, they can enjoy a plethora of facilities within their own development!

Parc Esta Location

Parc Esta Eunos Condo Location

Parc Esta is less than 5-mins walk away from Eunos MRT station and a bus interchange which allows residents to easily commute to all parts of Singapore. For those who drive, a 5-min drive will take you to PIE or ECP which easily connects you to all parts of Singapore.

Getting your daily necessities is such a breeze! The NTUC Fairprice supermarket and a wet market are located right behind Eunos MRT station. There are also at least 3 household accessory shops located on the ground floor of the nearby HDB blocks to satisfy your daily needs.

Food Glorious Food!

There are no lack of F&B options near Parc Esta for those with discerning taste. You can easily get your regular hawker fix at the hawker centre or kopitiams near Eunos MRT station, or take a few steps further to join the queue for the famous black pepper crab at Eng Seng Restaurant at the junction of Still Road and Joo Chiat Place. If you have a late night craving, just head further down Joo Chiat Place to the famous Fei Fei Wan Ton Mee which is open 24/7.

The Joo Chiat and East Coast stretch are known for their vibrant F&B scene and these are only a short drive away in the same neighbourhood. For food, you will definitely be spoilt for choices!

Paya Lebar Central

Paya Lebar is just one MRT station away from Parc Esta, and is one of the commercial hubs to be developed outside the city centre as part of URA’s larger decentralisation strategy to provide alternatives for businesses and jobs closer to homes. Currently, the other commercial hubs are Tampines Regional Centre, Jurong Lake District and Woodlands Regional Centre.

The upcoming changes to Paya Lebar shall lift prices like a rising tide for the surrounding properties due to the current development of 500,000 sqm of commercial space. In the near future, Paya Lebar Central (PLC) is envisioned to be the eastern equivalent of the now bustling Buona Vista Business Hub. As reported on the Business Times, PLC has an added advantage over other commercial hubs due to its strategic location to both the city centre, Kallang Riverside, as well as Changi Airport. Over the next few years, there will be retail, hotel and office developments clustered around Tanjong Katong Road and Sims Avenue.

Paya-Lebar-Master-Plan-1

park-place-residences-paya-lebar-quarter-set-to-transform

Kallang Riverside Future Plans

Just a little further beyond Paya Lebar, Kallang is seeing a real estate revival! A revamp of the Kallang River coastline which will eventually transform it into a 64 hectare waterfront lifestyle precinct offering 4,000 new homes 3,000 hotel rooms, and around 400,000 sqm of office, retail and entertainment facilities. These will be spread across two distinct precincts on either side of the Kallang River – a residential enclave and a mixed-use cluster. Read more on URA’s development plans for Kallang.

kallang riverside condo kampong bugis lavender mrt sports hub freehold

Nearby Schools

For families with young children, nearby schools are an important factor when it comes to deciding which property to buy. Parc Esta is closely located to the following primary schools:

Within 1km

  • Eunos Primary School
  • Haig Girl’s School

Within 2km:

  • Chij (Katong) Primary
  • Kong Hwa School
  • Maha Bodhi School
  • St. Stephen’s School
  • Tanjong Katong Primary School
  • Tao Nan School
  • Telok Kurau Primary School

Parc Esta Specifications

Project Name: Parc Esta
Address: 838 Sims Avenue
Developer: MCL Land
District: 14
Tenure: 99 years
No. of blocks TBA
Total no of Units: approx 1,399
Facilities TBA
Site area: approx 376,713 sq ft
Expected TOP: 2023
Architect TBA

Site Plan

To be advised

Unique Features

  • Eunos MRT station at doorstep
  • Excellent connections to major expressways such as the Pan Island Expressway (PIE) and East Coast Parkway (ECP)
  • Convenient access to daily necessities (NTUC and wet market within 5 mins walk)
  • Massive range of F&B options nearby (including a hawker centre and boutique stalls)
  • Location attracts a huge tenant pool
  • Good pricing upside from development of 2 commercial hubs – Paya Lebar Central and Kallang Riverside
  • Developed by reputable developer – MCL Land

Photo Gallery

TBA

Parc Esta Floor Plans

TBA

Unit Mix

TBA

Parc Esta Official Pricing

Parc Esta will be built on the site of the former EunosVille, which was sold en bloc for S$765m in June 2017 to MCL Land. The sale price works out to a land rate of $909 per sq ft per plot ratio, including the premium paid to top up the lease to a fresh 99 years and for redevelopment of the site to a gross plot ratio of 2.8.

According to CBRE, the new units could be sold for an average of about $1,700 to $1,750 psf.

Register now to obtain first hand updates on the pricing based on your choice units!

About the Developer

MCL Land is a leading property group in Singapore.  A member of the Jardine Matheson Group under Hongkong Land Holdings and listed under the Singapore Stock Exchange, MCL Land has a long track record of building quality homes in Singapore and Malaysia over the last 50 years. MCL Land has an extensive portfolio of prime residential properties in Singapore and Malaysia, which are held through more than 15 subsidiaries and associates. Past projects developed by MCL Land include LakeVille, J GatewayHallmark Residences, Ripple Bay, Palms @ Sixth Avenue, D’Pavilion and Hillcrest Villa.

Register Interest Now

Parc Esta is expected to open for viewing in late August 2018. REGISTER NOW for an appointment at our showflat and enjoy VIP pricing direct from the Developer! No agent commission required!

Registration Form
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Excellent Location
  • Location
  • Pricing
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Summary

There won’t be another massive project such as Parc Esta to be launched in the vicinity in the foreseeable future. Residents of Parc Esta will be able to enjoy seamless connectivity via MRT and PIE/ECP. While residents are able to enjoy the peace and quiet from the low density neighbourhood, there are no lack of nearby amenities. Based on the cost of enbloc acquisition of Eunosville, Parc Esta is expected to be priced competitively compared to Paya Lebar Quarters which is only 1 MRT station away at Paya Lebar.

 


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Powerhaus
Powerhaus
MAS FLAGS OVERSUPPLY RISK - WHY?

A few days ago, MAS gave this warning:
https://www.straitstimes.com/business/property/mas-flags-loan-risks-amid-rising-home-supply

Should you be concerned?

Unsold properties are rising. If you are concerned by this, it is a logical and perfectly acceptable emotion. Beyond the headlines, what's equally important is for us to understand why unsold properties are rising. If buyers have stopped buying, we should be alarmed! But is this the case? Once again, I have done my research on this and please allow me to use facts and figures to help you understand the situation better.

Over the past 3 months, there have been 11 new BIG launches that entered the market. Since I cover all of them, I gathered the info into a summary below for your easy reference:

Dairy Farm Residences $1,500psf (99Y, Hillview) - 460 units launched Nov
Midwood $1,550psf (99Y, Hillview) - 564 units launched Oct
Parc Clematis $1,600psf (99Y Leasehold, Clementi) - 1,468 units launched Sep
The Antares $1,700psf (99Y Leasehold, Matttar Road) - 265 units launched Sep
Sengkang Grand $1,700psf (99Y Leasehold, Buangkok) - 680 units launched Nov
Urban Treasures $1,900psf (FH, Ubi) - 237 units launched Nov launched Nov
Avenue South Residences $2,000psf (99Y Leasehold, Bukit Merah) - 1,074 units launched Sep
Midtown Bay $2,700psf (99Y Leasehold, Bugis) - 219 units launched Sep
Royal Green $2,750psf (Freehold, Bukit Timah) - 285 units launched Sep
One Holland Village $2,800psf (99Y Leasehold, Holland Village) - 296 units launched Nov
Pullman Residences $3,000psf (FH, Newton) - 340 units launched Nov

Let's do the maths - that's a grand total of 5,888 new units launched over a short 3 months without even including the smaller launches! To put this number in context, developers sold 8,795 residential units for the whole of 2018. In other words, developers launched more than 67% of last year's sales volume in a short span of 3 months! Obviously, these new units will need time for the market to digest. Undoubtedly, this caused a short term spike unsold units.

Is there a need to be concerned? Well - that depends on whether you are a buyer or seller. I don't think there is any dispute that we are now in an oversupply market. In this market, will you be more stressed as a seller or as a buyer? If this is a market where sellers and developers are stressed, is it a good or bad market for buyers? As a buyer, will you be better off to buy when sellers are stressed, or wait until there is a lack of supply when everyone else is rushing in to buy? As a seller, perhaps it will be better to sell later when there is less supply, provided that what you're buying next does not appreciate faster than your current property.

You will also be thinking - will prices drop further? Looking back when the government introduced cooling measures in July 2018, most people felt that prices will definitely drop. Those who sat on the sidelines since then, they would missed out on approx 2-5% price growth for private properties, but can buy HDB flats now at 2-5% lower.

To objectively answer the question of whether prices will head towards, we will have to assess if we are at the peak of oversupply, or will the situation get worse. How do you if we're at the peak?

Well, for private properties, that's not difficult to estimate. If developers stopped buying land/enbloc in mid 2018 after cooling measures, and most developers take around 1 year to launch enbloc properties for sale, when do you think developers will stop launching new units into the market?

As for HDB, the government plans to launch 15k new flats in 2020. Based on projected population growth of Singapore Citizens and PRs, assuming all of them buy HDBs, we are looking at less than 10k demand per year for the next 3 years or so. What do you think will happen to HDB prices in general?

Where do I get these stats? PM me, and I'll share more with you.
Powerhaus
Powerhaus
ARE YOU GOOD AT CHOOSING THE RIGHT PROPERTY?

Perhaps you are thinking of buying your first property. Or perhaps you have already bought 5-6 different properties in your lifetime. You probably have certain assumptions that certain types of properties are better than others (e.g. freehold condos near MRT are the best). You might be right, except that you may not have tested this assumption based on past track records. Why not try a simple test in this link below?

https://powerhaus.pro/choosing-the-right-property/
Powerhaus
Powerhaus
Up to $400k discount from last transacted prices. 1ᗷᖇ from $1.6m/ $2,200psf; 2ᗷᖇ from $2.2m/ $2,164psf.

At prices starting from only $2,200psf (applicable to both 1 and 2 bedroom units after discount), when can you find another opportunity for you to purchase a brand new condo in the heart of CBD at the same price of a brand new condo at Woodleigh?

Offer valid till 7 Dec 2019!
Powerhaus
Powerhaus
Powerhaus
ARE PRICES OF NEW CONDOS GETTING OUT OF HAND?

Here's a quick summary of some projects that launched in the past few months sorted by average psf in ascending order:

Parc Clematis $1,600psf (99Y Leasehold, Clementi)
Sengkang Grand $1,700psf (99Y Leasehold, Buangkok)
Woodleigh Residences $2,000psf (99Y Leasehold, Woodleigh)
Avenue South Residences $2,000psf (99Y Leasehold, Bukit Merah)
4th Avenue Residences $2,400psf (99Y Leasehold, Bukit Timah)
Royal Green $2,750psf (Freehold, Bukit Timah)
Midtown Bay $2,700psf (99Y Leasehold, Bugis)
One Holland Village $2,800psf (99Y Leasehold, Holland Village)

What if you can still own a brand new condo in the heart of CBD at around $2,200psf only, which is comparable to other older resale condos nearby? What if the developer has recently cut prices by up to 15%?

A 1 bedroom 764sqft #12-20 was $1.972m in Aug 2019. #16-20 is now selling at around $360k lower at $1.615m.
A 2 bedroom 1001sqft #04-19 was $2.498m in Aug 2019. #04-19 is now selling at around $400k lower at $2.109m.

If this CBD condo is now selling at Woodleigh prices and 12% lower than Holland Village, can I say that you have everything to gain and nothing to lose? 😄
Powerhaus
Powerhaus
Liang Court is getting a makeover soon! The new Liang Court will comprise two residential towers offering some 700 residential units, a commercial component, an "upper midscale" hotel with 460 to 475 rooms, and a 192-unit serviced residence with a hotel licence.

If new River Valley condos are now selling at around $3000psf, I can imagine this will be easily $3300psf especially given the lack of competition in its immediate vicinity, and its proximity to Fort Canning station.

https://www.businesstimes.com.sg/companies-markets/capitaland-cdl-ascott-reit-to-redevelop-liang-court-into-mixed-use-complex
Powerhaus
Powerhaus
SHOULD YOU INVEST IN A PROPERTY BECAUSE IT IS CHEAP?

I've had interesting conversations with a few prospective buyers recently, and a common topic came up. It goes along the lines of "this condo is really cheap, so it's a very good buy!".

Yes, that is a natural instinct. Don't we all want to maximise the value of what we get for our money? So is that the right thing to do? Well that depends. Let's use an analogy.

If you compare the top range Oppo mobile phone against the likes of Samsung and Apple, Oppo will definitely be the cheapest and offer the best value for money. If you are going to use the Oppo phone until the end of its useful life, I would say Oppo is likely the best option for you. But if you intend to upgrade to a new phone 1-2 years later, which phone do you think has better resale/trade in value?

Translated into property talk, cheap may not necessarily mean higher capital appreciation. In fact, the inverse may be true. Why do I say that? Well think about it - if this property is cheap, could it have enjoyed high capital appreciation over the past few years? Unlikely. That's why it looks cheap now. If you are buying for capital appreciation, the golden question would be this - is there any foreseeable catalyst that will change this phenomenon? Will it remain cheap after you buy it?

Let me give you a personal example. My mum stays in a freehold condo near Telok Kurau. Last transacted price was only $872psf. Cheap right? In 2012, it was transacted at $856psf, which was also considered cheap at that point in time when Bedok Residences (99 years leasehold) launched at record high price of $1350psf. So if a buyer bought my mum's place thinking that it's a good buy because it is cheap and freehold, he/she would have gotten very good value for money in terms of huge floor space for a given budget. Conversely, the buyer who bought Bedok Residences at an price of $1350psf (seen as insane at that point in time) can sell it today at around $1550psf and enjoy $200psf of profits.

Ultimately, which one is more important to you? Capital gains or value for money? What if you have bought Bedok Residences in 2012, sold it today and bought my mum's place? Wouldn't it be nice to have your cake and eat it - to sit on $200k profit and eventually getting your value for money? 😄